LUXXFOLIO – WireUp

LUXXFOLIO Continues Mining Growth and Increases BTC Reserves by 16%

February 3, 2022 Published by TheBlockchainExaminer.com

LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a vertically-integrated digital asset company announces the following operational update:

Mining Overview (as at or for the month of January 2022):

Bitcoin Mine site operating at ~139 PH/s – 6% Increase MoM (Dec. 31, 2021: 131 PH/s);
Total monthly Bitcoin mined of 22.01 (Dec 2021 = 20.45 Bitcoin);
Bitcoin equivalent reserves at end of month of ~82.6 (78 BTC and 64 ETH) (Dec. 31, 2021= 71.5);
Expansion of the New Mexico mining operation continues as scheduled. Groundwork has been completed and all electrical equipment has been delivered to the site. Electrical connections are being finalized with the first phase expansion scheduled to be completed over the next month, coinciding with the next batch of miner deliveries.
Final completion of expansion is scheduled for calendar Q2 of this year, which will increase capacity from approximately 8MW to 15MW.
The company has opened a second mining operation in Canada where it is mining Filecoin as part of its diversification strategy.

Ken MacLean, President of LUXX commented “Our mining site expansion is nearing completion including the addition of 2100 miners by mid-2022. With immersion technology, we anticipate this will increase our capacity to 370-395 PH/s. In addition, we are beginning to see miner purchasing opportunities as supply chain improvements continue and inventory levels begin to rise.”

Recent Company Highlights

Date	Milestones
Nov 2021:	LUXXFOLIO Procures Immersion-Cooling for Crypto Mining Operations with anticipated 25% Increase in Hash Rate (NR Nov. 10, 2021)
Nov 2021	LUXXFOLIO accepts early delivery of an additional 100 Miners (total of 735 early deliveries) resulting in a Hash Rate increase of 162% since Sept. 1 2021 (NR Nov. 16, 2021)
Nov 2021:	LUXXFOLIO closes acquisition of Ethereum mining operation (NR Nov. 27, 2021);
Dec 2021	LUXXFOLIO closes ~$10 Million Institutional led Bought Deal Financing led by investment banking firm PI Financial (NR Dec. 2)
Dec 2021	LUXXFOLIO finalizes order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Dec. 16, 2021)
Jan 2022	LUXXFOLIO rolls out Decentralized Storage Vertical (NR Jan. 31, 2022)

Estimated Calendar Miner Delivery and Installation Dates

Q1 2022: 600 Miners
Q2 2022: 1100 Miners
Q3 2022: 300 Miners

Final Tranche of Private Placement Closed – Total Closings of $1.6 million

March 22, 2021 Published by TheBlockchainExaminer.com

LUXXFOLIO Holdings Inc. (the “Company”) (CSE: LUXX) is pleased to announce that on March 19, 2021, the Company completed the final tranche of its non-brokered private placement that was previously announced on February 10, 2021 (the “Offering”).

The final tranche consisted of 904,914 common shares for gross proceeds of $316,720 for a total closing of 4,572,060 common shares at $0.35 per share equal to $1,600,221. The shares are subject to a four-month and one day hold period under securities laws.

An insider of the Company subscribed for 44,200 common shares in the final tranche of the Offering and such subscription is a “related party transaction” under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the insider, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the transaction because the Company had not received and accepted a subscription from the insider at that time.

$1.28M in First Tranche of Private Placement and Term Sheet Updates

March 8, 2021 Published by TheBlockchainExaminer.com

LUXXFOLIO Holdings Inc. (the “Company”) (CSE: LUXX) is pleased to announce that on March 5, 2021, the Company completed the first tranche of its non-brokered private placement that was previously announced on February 10, 2021 (the “Offering”).

The first tranche consisted of 3,667,147 common shares for gross proceeds of $1,283,501. The shares are subject to a four-month and one day hold period under securities laws.

An insider of the Company subscribed for 70,000 common shares in the Offering and such subscription is a “related party transaction” under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the insider, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the transaction because the Company had not received and accepted a subscription from the insider at that time.

The Company intends to use the proceeds for working capital purposes.

The Company and WestBlock Capital Inc. (“WestBlock”) agreed to extend the Term Sheet Expiry Date of their binding term sheet to March 20, 2021, as the proposed acquisition of WestBlock continues to progress within the broader timelines that were set for completion. The WestBlock acquisition was previously announced on February 10, 2021.

On March 5, 2021, the Company terminated the previously announced non-binding term sheet it entered into with Ocean Falls Blockchain Corp.

Tag: LUXXFOLIO

LUXXFOLIO Continues Mining Growth and Increases BTC Reserves by 16%

Final Tranche of Private Placement Closed – Total Closings of $1.6 million

$1.28M in First Tranche of Private Placement and Term Sheet Updates

Latest Members

Who is online

Latest Hashtags